Solvay Agrees to Sell Division
To American Home Products

BRUSSELS -- Solvay SA said it agreed to sell its world-wide animal-health division to American Home Products Corp. for $450 million.

The Belgian chemicals company said it intends to focus its diversification efforts into developing its human pharmaceuticals business. Proceeds from the sale will be used to finance Solvay's expansion into U.S. drugs market, said Baron Daniel Janssen, chairman of Solvay's executive committee.